BUZZ-KKR rises as executives continue insider buying

Reuters03:29
BUZZ-KKR rises as executives continue insider buying

** Alternative asset manager KKR's KKR.N shares climb 3.7% to $93.89

** KKR co-CEOs Joseph Bae and Scott Nuttall as well as board director Mary Dillon collectively bought $10.8 million worth of firm's shares recently, according to regulatory filings on Tuesday

** KKR insiders have now bought $46 million worth of firm's shares since February, according to data compiled by LSEG

** Buybacks and insider buying are the strongest signals companies can send to the market, according to analysts

** Alt asset manager stocks have sold off this year as anxiety climbed in private credit market due to questions about valuations and transparency

** 20 of 22 brokerages rate the stock "buy" or higher and two "hold"; median PT $136 - data compiled by LSEG

** As of last close, KKR stock was down 29% YTD

Alt asset managers navigate tough tape over past 6 months https://www.reuters.com/graphics/USA-ASSET%20MANAGERS/STOCKS/znpnmeaklvl/chart.png

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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